After one of the ugliest final 15 minutes in quite sometime the SPX closed lower by10.98 points or 0.76 percent to close below the 1440 metric @ 1435.81.
If you look at the chart on the right (click to enlarge) you notice volume flipped from buyers in control (since Thursday mid day) to sellers in control @11:30 am today. This is noted by indicator at bottom of chart showing the converging green line with red.
I bet many, including myself did not expect to see a rash of selling out of blue. You can argue what comes up must come day, but can we stick to a trend here? maybe two days of on trend volume or price appreciation? Looks like Christmas will not be coming early unless sellers got their jollies off today..
The S&P future pre market high was 1446, so we faded 15 handles pretty much in a straight line today, buyers never had a chance, lots of bid fluffing created by HFT noise drew in buyers, including myself.
The rate race continues. It is all good right crude closed up 1.55 percent…..
|30 min CL|